What is a fiduciary?

A fiduciary (fih-DOO-see-air-ee) is a person holding the highest duty known to the law. Commonly known fiduciaries are executors and administrators of estates, guardians, and trustees. People who have a power of attorney also act with fiduciary duties toward the person who gave them the power. Other persons who might owe fiduciary duties, depending upon the circumstances, include stockbrokers, insurance agents, lawyers, accountants, and realtors. Persons acting in a fiduciary capacity can be held personally responsible for errors they commit. If you believe that an executor, administrator, trustee, or other fiduciary has deprived you of assets, contact an attorney.